/KASE, June 26, 2023/ – KazTransOil JSC (Astana), with its shares officially
listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press
release stating the following:
beginning of the quote
On June 23, 2023, Fitch Ratings has upgraded JSC KazTransOil's (KTO) Long-
Term Issuer Default Rating (IDR) to “BBB” from “BBB-”. KTO's National Long-
Term Rating was also upgraded to “AAA(kaz)” from “AA+(kaz) ”. The Outlooks
are “Stable”.
The upgrade follows Fitch's upgrade of KTO's immediate parent, JSC National
Company KazMunayGas (KMG), and KTO's rating is now at the same level as its
unchanged “BBB” Standalone Credit Profile (SCP).
KTO's SCP (“bbb”) reflects its solid business profile as a national operator of
oil pipelines in Kazakhstan, fairly stable cash flow generation despite a less
predictable regulatory framework than European peers', and a strong financial
profile.
As a result of the revision, KTO’s rating is now equalised with the sovereign
rating of the Republic of Kazakhstan (“BBB”, “Stable” Outlook).
end of the quote
Press release of the company in the Kazakh, Russian and English languages is
available at
https://kase.kz/files/emitters/KZTO/kzto_rating_230623_4985.pdf
[2023-06-26]